Agricultural trade deficit could soon reach record highs. Is there cause for concern?

Chris Otten checks the moisture levels of his corn crop, stored in bins while awaiting sale, on Dec. 18 at his farm outside St. Libory, Ill. (Tristen Rouse/St. Louis Public Radio)
St. Clair County farmer Chris Otten recently spoke with St. Louis Public Radio about the U.S.'s projected $20 billion agricultural trade deficit.
St. Louis Public Radio reported that, over the past five years, agricultural exports have climbed from $141 billion in 2019 to nearly $196 billion in 2022, according to data from the U.S. Department of Agriculture. In both 2020 and 2021, agricultural trade was at a surplus, with exports exceeding imports.
Otten, a fourth-generation grower about 40 miles southeast of St. Louis, said farmers would like to see the deficit turn into a surplus.

“That’d be ideal for us,” said Otten, who farms near St. Libory, Illinois. “I don’t know if that’ll ever happen, but that is ideal for us to get back to where we’re exporting as much as we possibly can.”

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